The economy is growing according to the latest GDP figures and the CBI

THE latest GDP figures show that the UK economy grew by 0.7 per cent in the fourth quarter of 2013.

This brings the annual growth rate to 1.9 per cent.

The figures came as the CBI unveiled its new monthly Growth Indicater, which showed the volume of output in the three months to January grew at the fastest pace since late 2007.

CBI director-general John Cridland, said: “The economy is growing and the recovery gathering momentum. This is good news, and we’re seeing improvement across many different sectors.

“Our new Growth Indicator echoes this building confidence, showing that output in last three months grew at the fastest pace since late 2007, with strong performances in business and professional services, and manufacturing.

“This is a strong platform for an even better year in 2014, and we expect the economy to continue to strengthen.”

The CBI represents around 240,000 businesses in the UK that together employ around a third of the private sector workforce.